Thursday, February 26, 2009

Stop your Saab-ing

"Today is the beginning of a new chapter in Saab's history," said Jan Ake Jonsson, Saab's managing director.

Whew... good thing I sold my SAAB wagon last year. Well, actually, I traded it on a Cadillac Escalade. If GM keeps heading in this downward spiral, my Escalade might be a bigger headache.

Saab said in a statement that the reorganisation was "the best way to create a truly independent entity that is ready for investment".

In a restructuring plan submitted to the US Treasury this week, GM had said it planned to make Saab an independent business by the start of 2010. Yeah. The entire company will be an independent unit unless they close up shop on Pontiac, Saturn, Buick and uhhh... oh yeah: SAAB!

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